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1 year ago

1. How much interest would you pay on a loan of $1,230 for 15 months at 15 percent APR if the interest is 18.75 per $100?

1 answer:

7 0

1. How much interest would you pay on a loan of $1,230 for 15 months at 15 percent APR if the interest is 18.75 per $100?

The chart probably refers to interest per $100 of loan. So, the interest for a $1,230 loan would be (1230/100) * 18.75 = 230.625 ~ 230.63
So, the answer will be B $230.63.

2. Sherri borrowed $3,200 at 13 percent APR for 18 months. If she must pay 19.5 per $100, what is the total interest?
3,200 / 100 = 32 ... x 19.5 = 624
Principal x int rate x time = 3200 x .13 x 1.5 yr = 624 interest

So, the answer will be the A $624.

3. What is the total amount that Sherri (in question number 2) will repay?

The correct answer will be the $3,824.

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Answer:

The journal entry should be:

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Cr Retained Earnings account 50,000

Explanation:

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Merchandise inventory is an asset account and it increases, therefore it should be debited.

Retained earnings is an equity account and it increases, therefore it should be credited.

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The marginal propensity to save will remain unchanged in each of the countries.

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1 - MPC

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2 years ago

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Answer:

The correct answer is $138,500.

Explanation:

According to the scenario, the given data are as follows:

WIP beginning = $10,500

WIP ending = $19,000

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Direct material = $115,000

Direct labor = $78,000

So, we can calculate the amount of overhead by using following formula:

Overheads = Total manufacturing costs - Direct materials - Direct labor

Where, Total manufacturing cost = Cost of goods manufactured + Ending WIP - Beginning WIP

= $323,000 + $19,000 - $10,500

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So, by putting the value in the formula:

Overheads = $331,500 - $115,000 - $78,000

= $138,500

Hence, the amount of overhead is $138,500.

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1 year ago

The automobile industry in a developing country has very few sellers. If one automobile company raises the prices of its trucks

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Answer:

The correct answer is B. an oligopoly.

Explanation:

An oligopoly is a market structure where there are few relevant competitors and each of them has some capacity to influence the price and amount of equilibrium.

In the oligopoly, competitors have market power, but at a lower level than in the case of monopoly. This, since, instead of having only one bidder, there is a small group of companies.

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